Dukemount Capital PLC

10 August 2021

Dukemount Capital Plc

10 August 2021

Dukemount Capital Plc

("Dukemount" or the "Company")

Update Re 11kv Flexible Energy Project Funding

Dukemount Capital Plc, the property management and long dated income specialist is in advanced stages of talks with financial instutions with regards to the funding it is looking to raise for the gas peaking projects first announced via its JV with HSKB in March 2021.

As announced previously, the projects will require funding of approximately GBP6.25 million and the terms that have been offered since the recent GM have been significantly better than those previously offered or available prior to the previous funding announcement. The company is still committed to delivering these projects into the construction phase and also demonstrating that there is a route to progressing further projects into this portfolio from the HSKB pipeline.

Executive Chairman Geoffrey Dart commented:

"Since the conclusive result of the General Meeting in July, we have been approached by a number of institutions offering alternative and more competative funding options and we are in advanced stages of talks with two of them. We look forward to updating shareholders and the market when we have agreed terms with our preferred institution.

A report last month from the Energy Networks Association entitled 'Britain breaks network flexibility record with 45% more contracted than all of 2020', should give shareholders further encouragement that we are in the right sector at the right time."

Market Abuse Regulation (MAR) disclosure

Certain statements in this announcement contain inside information for the purpose of Article 7 of EU Regulation 596/2014.

For further information, please visit www.dukemountcapitalplc.com or contact:

  Media Enquiries   Zak Mir: +44 (0)7867 
                      527 659 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word "Reach" in the source column of the News Explorer pages of London Stock Exchange's website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

August 10, 2021 05:03 ET (09:03 GMT)

Dukemount Capital (LSE:DKE)
Historical Stock Chart
From Jul 2022 to Aug 2022 Click Here for more Dukemount Capital Charts.
Dukemount Capital (LSE:DKE)
Historical Stock Chart
From Aug 2021 to Aug 2022 Click Here for more Dukemount Capital Charts.